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PARTNERS
THURSDAY 23RD JUNE 2011
MyATM cancels
financing deal
KEVIN NAUGHTON
MyATM, major sponsor of Port
Adelaide Football Club, told
the Australian Stock Exchange
today that it has cancelled a
$10 million funding facility it
announced last February.
“The facility, which required
MyATM to exercise a put
option, was for... Read more
BUSINESS
Bank nabs top award
NATIONAL Australia
Bank’s ‘Break-
up’ campaign has
been recognised at
the world’s biggest
advertising and PR
awards, the Cannes
Lions, for changing
perceptions of the bank
and its rivals.
Other Aussie winners
were Leo Burnett (for
its work on a Diageo fund-raising effort for Queensland flood
victims) and Happy Soldiers for its Tontine pillows... Read more
MORNING
MARKET REPORT
Done deal: Telstra
signs to NBN
TELSTRA Corporation Ltd has reached agreement with the federal government
to progressively disconnect its copper network and participate in the roll out of
the national broadband network (NBN).
Telstra said the agreement will deliver approximately $11 billion in replacement
revenue, through disconnection payments, and new revenues, through
payments for access to its infrastructure.
There will be no upfront payment, but rather payments over many... Read more
Telstra CEO David Thodey
US outlook downgraded
MARTIN CRUTSINGER : AFP
The US Federal Reserve acknowledged
this morning that the economy is
growing more slowly than it expected.
But it said it will complete its $US600
billion Treasury bond buying
program by June 30 as planned and
announced no further efforts to boost
the economy.
Ending a two-day meeting, the Fed
repeated a pledge to keep interest
rates at record lows near zero for “an
extended period,” a promise it has made
for more than two years. Read more
Stock traders react to Ben
Bernanke’s promise to keep
interest rates low
NAB’s “Break Up” ad campaign had an
immediate impact on customer inquiries
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